EWRE News and Press, Invesco S&P 500 Equal Weight Real Estate From 12/28/22

Summary According to the National Association of Realtors, "Pending home sales slid for the sixth consecutive month in November." The MoM came in at -4.0%, up from a 4.7% decrease last month. Over this time frame, the US population has grown by 17.5%. By Jill Mislinski ...

Summary All the positive sales and earnings forecasted are concentrated in the top 15% of all stocks that I monitor. In other words, institutional buying pressure is focused on fewer stocks than normal. Energy stocks are big winners in 2022. In addition to high energy prices, the buying...

Summary Dec. 23rd release of the November New Home Sales from the Census Bureau came in at 640K, up 5.8% month-over-month from a revised 605K in October. The median home price is now at $471K. The Census Bureau's mid-month population estimates show a 77% increase in the US populatio...

Summary Due to decades of easy monetary policy, the economy is now tightly linked to the growth in asset prices. Namely the stock market and the housing market. When the stock market and housing market falls, this has significant implications for employment, consumption, economic growth...

Summary Sales of new single-family homes rose again in November. November sales are still down 15.3% from a year ago and down 38.2% from the August 2020 post-recession peak. Components of the Housing Market Index were mixed in December. By Robert Hughes ...

Summary In all likelihood the next directional move in real estate will be a big, step-function move lower. According to Redfin, 60,000 purchase contracts were canceled in October. That’s the highest monthly number since Redfin began tracking the data in 2013. The Q4 new orde...

Summary Sales of all types of previously owned houses, condos, and co-ops plunged by 7.7% in November from October to a seasonally adjusted annual rate of sales of 4.09 million homes, nearly matching the lockdown low in May 2020. Year-over-year (seasonally adjusted) sales fell by 35%, t...

Summary Sales of existing homes sank another 7.7% in November to a 4.09 million seasonally adjusted annual rate. Mortgage rates have eased back recently. Housing is likely to continue to be under intense pressure. By Robert Hughes Sales of exi...

Summary Last week the Fed reiterated its intention to snuff out inflation with still more hikes. But beginning about 6-8 months ago, when (not coincidentally) the Fed started to raise interest rates, inflation started to decline. In the housing market it's beginning to look like int...

Summary The latest reading of 1.342M was down 11.2% from the October reading and is below the forecast of 1.485M. Single‐family authorizations in November were at a rate of 781,000; this is 7.1 percent below the revised October figure. Authorizations of units in buildings wit...